Cabinet Meeting Live Updates: Minimum Support Price For 14 Kharif Crops Hiked, Says Javadekar
Prime Minister Narendra Modi chairs a cabinet meeting as ministers maintain social distancing in the wake of coronavirus pandemic. (Source: Amit Shah/ Twitter Via PTI)

Cabinet Meeting Live Updates: Minimum Support Price For 14 Kharif Crops Hiked, Says Javadekar

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  • Trying to get more 2.5-3 crore farmers under the cover of KCC
  • This will help in releasing an additional credit of Rs 2 lakh crore to farmers
  • Central APMC Act to come out soon

MSME Fund To Invest Up To 15% Equity In Stressed MSMEs

Stressed MSME fund will invest up to 15% in equity of MSMEs with strong track record of exports, GST filings, healthy turnover, Gadkari said.

  • Hope to move MSMEs toward listing
  • Return on stressed fund investment will aid further support

MSMEs To Account For 29% Of GDP, Says Gadkari

  • MSMEs contribute 29% to India’s GDP
  • There will now be no distinction in manufacturing and services sector MSMEs
  • Fund of funds will be used to restructure distressed MSMEs
  • Distressed asset fund will be of Rs 4,000 crore
  • Rs 10,000 crore worth fund created to help listing of MSMEs on stock exchanges
  • Government will buy stake in MSMEs with good ratings and financials

Tomar Specifies MSP Rates

  • Jowar Rs 2620/quintal
  • Bajra Rs 2150/quintal
  • Ragi 50% increase
  • Moong 50% increase
  • Groundnut 50% increase
  • Cotton 50% increase

Procurement Of Wheat, Paddy Has Gone Up, Says Tomar

Procurement of wheat and paddy has gone up despite concerns due to lockdown, said Agriculture Minsiter Narendra Singh Tomar.

  • 360 lakh metric tonnes of wheat procured versus 342 lakh metric tonnes last year
  • 95 lakh metric tonnes of paddy procured versus 90 lakh metric tonnes last year
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